MacroGenics (NASDAQ:MGNX) PT Lowered to $8.00

MacroGenics (NASDAQ:MGNX) had its price objective lowered by JMP Securities from $16.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a market outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reduced their price target on shares of MacroGenics from $16.00 to $4.00 and set a neutral rating for the company in a report on Monday, May 13th. TD Cowen downgraded shares of MacroGenics from a buy rating to a hold rating in a research note on Friday, May 10th. BMO Capital Markets cut MacroGenics from an outperform rating to a market perform rating and dropped their target price for the company from $24.00 to $8.00 in a research report on Friday, May 10th. B. Riley lowered MacroGenics from a buy rating to a neutral rating and reduced their price target for the stock from $18.00 to $5.00 in a research report on Wednesday. Finally, BTIG Research dropped their price objective on MacroGenics from $24.00 to $9.00 and set a buy rating on the stock in a research report on Friday, May 24th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $8.33.

MacroGenics Trading Down 4.3 %

NASDAQ MGNX opened at $3.83 on Wednesday. The company’s 50-day moving average price is $4.56 and its 200-day moving average price is $11.12. The stock has a market cap of $239.87 million, a PE ratio of -9.82 and a beta of 2.09. MacroGenics has a 12 month low of $3.14 and a 12 month high of $21.88.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). The company had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. As a group, sell-side analysts forecast that MacroGenics will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in MacroGenics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock worth $20,574,000 after purchasing an additional 36,396 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of MacroGenics by 36.9% during the fourth quarter. SG Americas Securities LLC now owns 28,589 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 7,712 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in MacroGenics by 349.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 5,577 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after acquiring an additional 3,319 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in MacroGenics by 64.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,834 shares of the biopharmaceutical company’s stock valued at $393,000 after purchasing an additional 15,994 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.